How to successfully turnaround companies that are experiencing organizational decline has become an important managerial issue given the increasing occurrence of decline in both the manufacturing and service industries. This book is based on the study of six Indian companies which were at one time on the verge of extinction but successfully came out of the life-threatening decline. The causes and the early warning signals of decline are discussed in the book. It also provides managers with insights into the turnaround process to help them devise turnaround strategies in already sick or declining industries in India.

Tinplate Company of India Ltd. (TCIL) which was established in the year 1922 was the first Indian producer of tinplates which is used extensively by the metal container industry to manufacture cans of various sizes for packaging of both edible and non-edible products. TCIL was promoted by Tata Iron & Steel Company Ltd. (TISCO) and over all these years, it has been the main producer of tinplates in India. TCIL had performed consistently well except for a brief period in the late 1970s when it incurred some losses, but it was able to get over this situation in quick time through some focused strategies.

However, TCIL started incurring sustained losses from the year 1997 for a continuous period of five years which almost wiped out its net worth built up over several decades. At one time during this period TCIL was reportedly incurring a loss of Rs. 50 mn every month. Never in its long period of existence had TCIL faced such a staggering and life-threatening decline in business. However, TCIL was able to get over this life-threatening situation and by 2002-03 it was again making profits. How were they able to achieve this dramatic turnaround? Why do companies face such life-threatening situations? Are there any early warning signals? Are there any patterns in the turnaround management process?

Global CEO Magazine, manufacturing industries, service industries, Tinplate Company of India Limited , TCIL, Metal Container Industry, Tata Iron & Steel Company Limited, TISCO, Sick Industrial Companies Act, Decision-Making Process, Organizational Change, Bureau of Industrial and Financial Reconstruction, BIFR.